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Strategies & Market Trends : The Amateur Traders Corner

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To: jjs_ynot who wrote (17893)	1/3/2002 9:49:42 AM
From: Paul A	Read Replies (2) of 19633

Dave- thats really what keeps sticking in my mind is the consumer and the enormous debt that lately nobody seems to talk about.. I have a friend at work.. great guy but a financial disaster.. In the last year he has had his van repod, had a cable bill of a few hundred so he bailed on them and now hes got the same problem with his satalite provider, credit cards etc etc- every day its something new.. Hes living well ahead of his means.. ANyhow- hes buying a house now.. no money down.. What perplexes me is I was always so nervous about credit credit credit.. cant buy a car or house with a blemish blah blah.. This guy is getting a house, no money down, and has a horrendous credit picture.. What am I missing? Than of course there is my brother who keeps balances of a few 10k on his credit cards.. I can go on and on but the larger numbers that are published pretty much sum up what I see.. Its like a big party and people just keep drinking and smoking and never collapse.. MY kinda party but its gotta end eventually.. : )

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